The commissioner may by rule define lines and classes of insurance which are not already defined under Section 31A-1-301. These definitions may be used for any purposes within the commissioner’s regulatory power, including:

(1) providing instructions for reports and replies under Section 31A-2-202;
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Terms Used In Utah Code 31A-20-103

  • Insurance: includes :
              (96)(b)(i) a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;
              (96)(b)(ii) a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and
              (96)(b)(iii) a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
(2) controlling combinations of lines or classes of insurance; and
(3) determining which rules under Chapter 22, Contracts in Specific Lines, are applicable.

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